**Hyosung Heavy Industries’ Memphis, USA Ultra High Voltage Transformer Plant
[Photo provided by Hyosung Heavy Industries. Redistribution and DB prohibited]**
(Seoul = Yonhap News) Reporter Han Ji-eun = Hyosung Heavy Industries announced on the 4th that it had signed a contract to supply ultra-high voltage power equipment with Denmark’s Ørsted, the world’s leading offshore wind power company, on the 1st.
Under the contract, Hyosung Heavy Industries will supply 400kV ultra-high voltage transformers and reactors, which improve power quality, to the UK’s “Hornsea 4 Offshore Wind Project” by 2027.
The Hornsea 4 Offshore Wind Project is a project to build an offshore wind farm with a capacity of 2.4GW near the coast of Yorkshire in northeastern England.
With this contract, Hyosung Heavy Industries’ total power equipment orders in Europe this year surpassed 1 trillion won.
Hyosung Heavy Industries started the year by winning a large-scale phase-shifting transformer project from the British power grid operator National Grid and continued to achieve successive orders.
In particular, it has been recognized for its competitiveness in large-capacity ultra-high voltage transformers, achieving the top market share in the 400kV transformer market in the UK, Scotland, and Norway’s transmission power companies.
The European power market is experiencing an average annual growth rate of 8.6%, and is projected to expand to approximately $57 billion by 2030.
To respond to the increasing global power grid demand, Hyosung Heavy Industries plans to expand its ultra-high voltage transformer plants in Memphis, USA, and Changwon, Gyeongnam, increasing production capacity by more than 40% compared to the current level.
Cho Hyun-joon, Chairman of Hyosung, said, “The success in securing power equipment orders in Europe is the result of VOC (Voice of the Customer) management,” and added, “We will continue to listen to the voices of customers not only in Europe but worldwide to further strengthen our position in the global power market.”
writer@yna.co.kr